The pre-construction interest is allowed to be claimed in five equal installments starting from the year in which the construction is completed.

Clubbing of income occurs when the income of another person is included in the total income of the assessee as per the provisions outlined in Section 64 of the Income Tax Act.

Governments and companies often resort to issuing Bonds & Debentures as a means of raising funds. Bonds are commonly utilized by governments to borrow money from the public, as they cannot directly take loans from individuals.